Developer, Holocene Clean Energy, commences construction of Twittys Creek Solar, LLC, a 14-megawatt-AC solar installation located in Charlotte County, Virginia
Cardinal Renewables, a strategic partnership between the global investment firm, The Carlyle Group, and Alchemy Renewable Energy, an industry leader in renewable energy projects and tax equity financing, has secured a power purchase agreement (PPA) with Direct Energy Business, one of North America’s largest retail providers of electricity, natural gas, and home business energy-related services, through Twittys Creek Solar, LLC, supporting construction of its a 14 MWac solar power installation located in Charlotte County, Virginia.
Providing a lasting clean energy alternative to traditional fossil fuels, Twittys Creek reduces the amount of harmful carbon emissions released into the atmosphere. The new solar installation, developed by Holocene Clean Energy, is expected to be operational in December 2020.
The new development adds needed housing, jobs, and income in the San Diego area
Monarch Private Capital, a nationally recognized tax-advantaged investment firm that develops, finances, and manages a diversified portfolio of projects that generate both federal and state tax credits, is pleased to announce the financial closing of low-income housing tax credit equity (LIHTC) for a 50-million-dollar affordable housing development called Valencia Pointe in San Diego, California.
Located at 5930 Division Street in San Diego, California, Valencia Pointe will consist of 102 multifamily apartment units with affordable rents in place for households earning 40 to 80 percent of the area median income (AMI). Plans include 58 two-bedroom and 44 three-bedroom units in a single residential building. The development is expected to be available for rent in the second quarter of 2022. To bring the project to fruition, Monarch partnered with CRP Affordable Housing & Community Development, a full-service, vertically integrated real estate firm, and Hunt Capital Partners, a national syndicator of Federal and State Low Income Housing, Historic and Solar Tax Credits.
This new affordable housing development would not be possible without The California Housing Finance Agency and their 2019 preliminary awards to eight mixed-income multifamily housing developments, including Valencia Pointe. The awards come from Senate Bill 2, the Building Homes and Jobs Act, which provides a permanent funding source for affordable housing in California. As the state with the highest percentage of unsheltered homeless in the United States at an astounding 64 percent, this bill addresses a major affordability crisis in the state. The funding goes to existing state programs that provide assistance for emergency housing, multifamily housing, farmworker housing, homeownership for very low and low-income households, and down payment assistance for first-time homebuyers. The eight projects receiving funding for 2019 will create 1,379 homes for low and moderate-income households, 102 of which make up Valencia Pointe.
“Monarch is committed to providing affordable housing in California,” said Brent Barringer, Managing Director of LIHTC at Monarch. “We’re very excited to partner with CRP and Hunt Capital on Valencia Pointe to help satisfy the growing need for quality affordable homes in the San Diego area.”
San Diego, California, is the second-largest city in the state and the eighth largest in the nation, with nearly 1.3 million residents within the city’s limits and over 3 million residents across the county. With 70 miles of breathtaking beaches, the many attractions of the world-famous San Diego Zoo, and various parks boasting unique art and culture installations, San Diego attracts all types of people. As a major tourism spot with a lot to offer, the city is finding a greater need to develop more affordable housing opportunities for its residents.
Not only will the new development address the city’s need for affordable housing, but in the initial year alone, the project is expected to create over 100 direct and indirect jobs and generate nearly $12 million in local income. The economic and social benefits will continue to impact the area in the years to follow.
“At CRP Affordable, we believe all individuals deserve a safe and secure place to live no matter the circumstance,” said Seth Sterneck, Vice President at CRP Affordable Housing & Community Development. “Valencia Pointe will help make this belief a reality, providing 102 families and individuals with new, high-quality affordable homes and an enhanced quality of life.”
For more information on Monarch’s programs and services, please contact Brent Barringer by emailing bbarringer@monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital manages ESG funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.
About CRP Affordable Housing & Community Development
CRP Affordable is a full-service, vertically integrated real estate firm with significant experience in multifamily acquisition/rehabilitation, ground-up development and property management. CRP Affordable was founded with the principles of providing quality affordable housing and strengthening communities. The founders of CRP Affordable have owned, operated, developed, and managed over 2,500 rent-restricted units and have significant experience providing housing to at-risk, special needs, seniors, and other vulnerable populations. CRP Affordable has successfully partnered with non-profit, government, and community organizations to support individuals and families in need.
About Hunt Capital Partners
Hunt Capital Partners (HCP) is the tax credit syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit Investments funds. Since its inception in 2010, HCP has raised over $2.2 billion in tax credit equity in over 40 proprietary and multi-investor funds. HCP manages almost 800 project partnerships representing over 80,000 homes in 51 states and territories. Founded in 1947, Hunt is a privately held company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunt’s affiliates and investors include investment management, asset management, property management, development, construction, consulting and advisory. For more information on HCP, please visit www.huntcapitalpartners.com, or for Hunt, please visit www.huntcompanies.com.
The Kimpton Cottonwood Hotel and Kinley Hotel offer revitalization and opportunity
Monarch Private Capital, a leading tax credit equity and ESG investment firm, is pleased to announce the closing of historic rehabilitation tax credit equity investment (HTC) in two iconic hotels in Omaha, Nebraska, and Cincinnati, Ohio. The rehabilitation of these properties will preserve the unique history of the buildings while also providing new resources and opportunities for the local communities and their residents.
The projects include the 75-million-dollar transformation of the historic Blackstone Hotel in Omaha’s Blackstone District and the 26-million-dollar rehabilitation of the Denton Building, also known as the old Jeweler’s Exchange Building, in downtown Cincinnati. Both built in 1915, the original architecture of each has been preserved to pay homage to the integral historic fabric of the two cities. In partnership with Clarity Development and GreenSlate Development, the Blackstone Hotel has been rehabilitated into the Kimpton Cottonwood Hotel. Now boasting 205 rooms, the full-service boutique hotel features two restaurants, a lounge, meeting space, an outdoor pool and more.
The original Blackstone Hotel featured multiple award-winning restaurants, rooftop gardens and a fleet of limousines in its prime. Considered the birthplace of the Reuben sandwich, the remarkably popular establishment successfully operated as a luxury hotel for nearly 60 years. The hotel hosted an array of high-profile visitors and was the location from which President Richard Nixon announced his campaign for the 1968 United States presidency.
Monarch collaborated with Vision Hospitality Group to transform the Denton Building into the Kinley Hotel as a part of the Marriot Tribute Portfolio. The Kinley Hotel offers 94 rooms and a restaurant and coffee bar on the first floor. The property is located immediately adjacent to Macy’s corporate headquarters and close to the Great American Ball Park, home of the Cincinnati Reds, and the Paul Brown Stadium, home of the Cincinnati Bengals.
The Denton Building, located in Cincinnati’s Race Street Historic District, was originally built to satisfy the growing need for professional office space in the area. From 1877 to 1951, the district served as a major retail spot of downtown, boasting a number of offices, shops and theaters.
“We are excited to be moving forward with these two properties despite the challenges the hospitality industry is currently facing in regard to the global health pandemic,” said Rick Chukas, Managing Director of Federal Historic Tax Credits for Monarch Private Capital. “We’re confident that the knowledge and expertise of our partners along with our equity capital can help foster a bright and prosperous future for the Kimpton Cottonwood and Kinley Hotels along with the local communities and economies in which they serve.”
Monarch Private Capital is actively pursuing new and exciting investment opportunities for its federal and state historic preservation funds. Please contact Rick Chukas by emailing rchukas@monarchprivate.com to discuss capital opportunities your federal or state historic tax credit projects.
About Monarch Private Capital
Monarch Private Capital manages ESG funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.
About Clarity Development Group
By leveraging their unique expertise and nearly 30 years combined experience in residential real estate, Clarity Development relieves clients of the burdens of complex and often nuanced legal, engineering, construction and finance issues. They have designed, permitted, and built residential developments ranging from urban to suburban, historic rehabilitation to ground up new construction–using a combination of traditional financing and multiple layers of subsidies and incentives.
About GreenSlate Development
GreenSlate is responsible for developing and managing Omaha, Nebraska’s Blackstone District – a diverse, multi-use community where people can live, work and play. Located at the center of Midtown, the Blackstone District is designed with modern living in mind. Stretching from 42nd to 35th Streets, with only a short walk to a variety of businesses and entertainment.
About Vision Hospitality Group
A family-owned and -operated company, Vision Hospitality Group owns and manages premium select- and full-service hotels affiliated with the Hilton, Marriott and InterContinental brands. Founded in 1997 in Chattanooga, Tennessee, they promote a culture founded on core values–their Vision Values–so as to provide the finest experience for their guests and ongoing efforts of social responsibility to their properties’ communities. The result is a team that shares a common vision and abides by a culture that further inspires one another, setting the company apart in today’s competitive hospitality market.
Monarch Private Capital, a nationally recognized tax-advantaged investment firm that develops, finances, and manages a diversified portfolio of projects that generate both federal and state tax credits, is pleased to announce the launch of a new website for its film & entertainment division, Monarch Film Credits, located at www.monarchfilmcredits.com.
Monarch Film Credits is one of the nation’s largest tax credit placement specialists and the market leader for placing Georgia film tax credits. Working primarily with major studios and larger independent production companies, Monarch Film Credits assists with all transferable state film tax credits, including California, Connecticut, Georgia, Illinois, Massachusetts, Montana, Nevada, New Jersey, Pennsylvania, and Rhode Island.
The division has brokered more than $800 million in film tax credits since Monarch began working with these types of programs in 2006. Because of the rapid growth of Monarch’s film division and the industry’s unique and ever-changing tax credit laws and practices, Monarch Film Credits was given its own website to address the full scope of the film tax credit programs in which the company operates.
“We created a new website for our growing film tax credit division because we wanted to share our knowledge and expertise for those taxpayers interested in buying transferable state film tax credits,” said Marco Cordova, Director of Film Finance and West Coast Tax Credit Investments for Monarch Private Capital. “We also wanted to provide a better platform to promote our production tax credit offerings and help our major studio and independent production clients to sell their credits as soon as possible.”
The new easy-to-navigate and user-friendly website allows for a streamlined, best in class customer service experience for everyone. Whether a studio or production company looking to place film tax credits, or a Fortune 500 company, private company, or a high-net-worth taxpayer hoping to use film tax credits to offset their state tax liabilities at a discounted price, the new website offers valuable information for buying and selling transferable state film tax credits.
Monarch Film Credits’ new website features an interactive map that supplies users with a summary of various state tax credit programs. Taxpayers interested in buying tax credits at a discount can easily assess a state’s film tax credit benefits. Also included on the site are industry-related perspectives and insights from our well-versed tax credit experts, keeping up-to-date analyses of the latest developments in film tax credit programs across the United States.
Lastly, the website provides taxpayers a one-stop shop user experience if they are interested in both transferable film tax credits and other state tax credits that Monarch Private Capital offers. The website also provides information related to Monarch’s other state tax credit offerings, including renewable energy, affordable housing, and historic preservation tax credits. The clean design and interactive tools make it quick and easy for taxpayers to find an answer to most film tax credit questions when looking to purchase tax credits, and the skilled and experienced team at Monarch Film Credits is just a simple click away to assist with the transaction process for every client.
About Monarch Private Capital
Monarch Private Capital manages ESG funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.
Monarch Private Capital (MPC), a nationally recognized tax-advantaged investment firm that develops, finances, and manages a diversified portfolio of projects that generate federal and state tax credits, including ESG investment opportunities that provide a quantifiable impact, is pleased to announce the financial closing of low-income housing tax credit equity (LIHTC) for a 48-million-dollar senior living development called Preserve at Peachtree Shoals in Dacula, Georgia.
Preserve at Peachtree Shoals is located at 2995 Old Peachtree Road in Dacula, Georgia. This new development will consist of 240 apartment units for seniors 55 and older and will have an affordable rent structure for households earning 30 to 80 percent of the area median income (AMI). The development comprised of one, two and three-bedroom units, is expected to be available to rent in the first quarter of 2022. To complete the project, MPC partnered with Dominium, the nation’s fourth-largest provider of affordable housing, and Searles Foundation, a non-profit organization that provides gracious living services to elderly and disabled residents.
“Preserve at Peachtree Shoals will be an excellent and much-needed addition to the Dacula area. It will provide seniors with beautiful housing that is affordable,” said Mark Sween, Vice President & Project Partner of Dominium. “We are excited to begin construction and to work again with our state housing tax credit partner, Monarch Private Capital.”
Dacula, Georgia is part of Gwinnett County, which has been a titan of social and economic progress for decades. Dacula has its own unique factors, however, that make it a great candidate for revitalization. Dacula is at the center of Georgia’s Innovation Crescent. Covering nearly 40 percent of Georgia’s population, the Innovation Crescent is the state’s hub for life sciences but is quickly becoming that of the entire Southeast. The crescent includes top research organizations such as Emory University, Georgia Institute of Technology, the University of Georgia, the CDC, Georgia Gwinnett College and Gwinnett Tech. In addition, the hub hosts a wide range of scientific companies, large and small, bringing in a variety of people and revenue to the community.
“This new affordable senior living development will help strengthen the Dacula area by providing residents with quality homes, enriching programs and services, and greater access to the unique variety of resources located throughout the city,” said David Searles Jr., CFO of the Searles Foundation. “We recognize the importance of the happiness and well-being of our senior residents and stay committed to fostering a friendly and valuable community for all.”
The development of Preserve at Peachtree Shoals will not only address the need for affordable, senior living opportunities in the area, but it will also have a major positive impact on the local economy. In just the initial year, the project is expected to create over 300 direct and indirect jobs and generate over $20 million in local tax revenue. The project will continue to benefit the area in the years to follow, paving the way for a lively and prosperous community for all.
“By building clean, well-constructed apartment units in an area that lacks adequate senior living facilities, we will help accelerate the growth of the community while also filling a significant housing void,” said Steve LeClere, Director of LIHTC Development at MPC. “We appreciate our collaboration with Dominium, who’s leadership and expertise will help make this project a reality.”
For more information on MPC’s programs and services, please contact Brent Barringer by emailing bbarringer@monarchprivate.com.
Monarch Private Capital manages ESG funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.
About Dominium
Dominium is an affordable housing development and management company headquartered in Plymouth, Minnesota.
The firm has developed more than 30,000 apartments in 22 states and is the nation’s 4th largest provider of affordable housing. Dominium has 45+ years in the business and owns over $3 billion in properties. Dominium employs a professional staff of more than 1,000 employees.
About Beverly J. Searles Foundation
Founded in 2007 by Richard and David Searles, The Beverly J. Searles Foundation is a not for profit organization that provides gracious living services to elderly and disabled residents of affordable housing and other residential communities. Their goal is to enhance the quality of life for their residents by encouraging independence and choices, while celebrating individuality, preserving dignity, privacy and nurturing the spirit.
The Searles Foundation is also a developer and owner of multi-family housing in the affordable and market-rate area, providing quality housing, excellent resident services with high standards, extraordinary experiences and a holistic approach to health and wellness. The foundation has planned, developed and/or operated about 2,000 new housing units, including 11 assisted living communities with 821 assisted living and memory care units. In early 2020, The Searles Foundation and its partners have $148 million under construction, representing 686 age-restricted apartments at five Georgia locations all using Housing Tax Credits.
Promotes Sustainability through Reuse of Historically Significant Buildings
Monarch Private Capital (MPC), a leading tax credit equity and ESG investment firm, is pleased to announce the closing of Monarch Federal Historic Preservation Fund I (Fund I). The $21 million fund provides investment in historic rehabilitation projects that will generate single-year federal historic tax credits in 2020 and 2021. In addition to preserving historically significant properties, the investments in these properties promote sustainability, revitalize neighborhoods, and encourage economic growth within the local communities.
Investors in Fund I are financial institutions interested in community development and economic returns while also managing their effective tax rate. Fund I, the first of several planned funds, targets properties that generate federal historic tax credits of $1 million – $5 million and that qualify for single-year credits. The footprint of the fund is largely Midwestern and Southeastern regions of the United States with a diversified mix of assets.
ONB Community Equity LLC, a wholly-owned subsidiary of Old National Bank (ONB), is the lead investor in Fund I. Fund I called on ONB’s tax credit group’s relationships and experience within the marketplace to secure many of the historic tax credit projects that comprise the fund’s investments. Both MPC and ONB recognize the value of historic tax credit equity to preserve historic buildings.
“The creation of Fund I was an effort to bring new life to under-utilized and vacant properties,” said Rick Chukas, Managing Director of Federal Historic Tax Credits. “We appreciate the commitment of our investor partners who came together to invest in reshaping our communities.”
For more information on MPC’s programs and services, please contact Rick Chukas by emailing rchukas@monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital positively impacts communities by investing in tax credit supported industries. The company is a nationally recognized tax equity investor providing innovative capital solutions for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch has long term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Investors look to Monarch to create, operate, and manage a variety of different funds, including investment opportunities that address ESG initiatives that provide a quantifiable impact. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.
About Old National Bank
Old National Bancorp (NASDAQ:ONB) is the holding company of Old National Bank. Headquartered in Evansville with $20.7 billion in assets, it is a top 100 U.S. bank, the largest Indiana-based bank and has been recognized as a World’s Most Ethical Company by the Ethisphere Institute for nine consecutive years. Since 1834, Old National has been a community bank committed to building long-term, highly valued relationships with clients. With locations in Indiana, Kentucky, Michigan, Minnesota, and Wisconsin, Old National provides retail and commercial banking services along with comprehensive wealth management, investment and capital markets services. For information and financial data, please visit Investor Relations at oldnational.com.
Monarch Private Capital (MPC), a nationally recognized tax-advantaged investment firm that develops, finances, and manages a diversified portfolio of projects that generate federal and state tax credits, including ESG investment opportunities that provide a quantifiable impact, is pleased to announce the financial closing of low-income housing tax credit equity (LIHTC) for a 13-million-dollar multi-family development called Abbington on Cheshire Bridge in Atlanta, Georgia.
MPC partnered with Rea Ventures Group (RVG), the developer for the property, which is located at 2070 Cheshire Bridge. RVG specializes in the development and long-term ownership of affordable and market-rate communities in the Southeast. Their communities are environmentally responsible, designed, and built with energy and water-efficient materials and systems, which are all part of their green building initiative.
Expected to be complete by the fourth quarter of 2021, plans include a 48-unit mixed-income rental community that will include 40 LIHTC units reserved for households earning at or below 50 percent and 60 percent of the Area Median Income (AMI) and eight unrestricted market-rate units. The development offers one, two, and three-bedroom units for a variety of household types ranging from singles to families. Community amenities include a community room, enlarged fitness center with instructional space, laundry facility, computer center, covered porch, fenced community garden with a 400 square foot planting area, and a health screening facility.
Abbington on Cheshire Bridge is in a prime location, positioned just four miles northeast of Downtown Atlanta and convenient to the Interstate 85/GA 400 interchange. Since the 2000s, the community has undergone various gentrification methods and hosts urban redevelopment projects. The area is vibrant and full of activity with commercial, residential and light industrial developments located throughout. Public transportation options are also easily accessible within one or two miles of the property.
“We’re excited about The Abbington on Cheshire Bridge and the promising potential it has to add to the ongoing revitalization of the area,” said Brent Barringer, Managing Director of LIHTC for MPC. “We look forward to working with Rea Ventures Group on this project and commend their excellent leadership and hard work on creating quality homes that create enduring communities that last for generations.”
In addition to this significant capital investment in Atlanta, Abbington on Cheshire Bridge will have a substantial employment impact on the community. The project should generate about 60 direct construction jobs and will act as a catalyst for the economic development of the area.
“Our company’s goal is not only to supply great housing solutions, but we also want our developments to provide lasting value for generations,” said Bill Rea, founding member and managing partner of Rea Ventures Group. “We believe that The Abbington on Cheshire Bridge will serve as a great foundation for the continued growth of the community.”
“We understand that quality, affordable housing acts as the cornerstone to a successful local economy in any community,” said Eric Buffenbarger, CFO, Vice President, and Treasurer of Bill Rea’s development and ownership companies. “The Abbington on Cheshire Bridge will help propel the area forward in a variety of ways, including job creation, new tax revenues, and an increased purchasing power due to lowered housing costs.”
For more information on MPC’s programs and services, please contact Brent Barringer by emailing bbarringer@monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital positively impacts communities by investing in tax credit supported industries. The company is a nationally recognized tax equity investor providing innovative capital solutions for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch has long term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Investors look to Monarch to create, operate, and manage a variety of different funds, including investment opportunities that address ESG initiatives that provide a quantifiable impact. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.
Monarch Private Capital (MPC), a nationally recognized tax-advantaged investment firm that develops, finances, and manages a diversified portfolio of projects that generate federal and state tax credits, including ESG investment opportunities that provide a quantifiable impact, is pleased to announce the financial closing of low-income housing tax credit equity (LIHTC) for a 3.8-million-dollar multi-family development called Americus Gardens located in Americus, Georgia.
Americus Gardens is conveniently located off US-19 at 730 S Martin Luther King Boulevard in the commercial part of town in Sumpter county. Residents will have quick and easy access to essentials like restaurants, grocery stores, and automotive care. The development contains 44 low-income housing units with one one-story apartment building, five two-story apartment buildings, and a one-story accessory building with brick exteriors. MPC partnered with Gateway Development Corporation to complete the project, which will be placed in service this year.
Along with this major capital investment in Americus, the LIHTC project is estimated to drive approximately 50 direct construction jobs. Not only does this boost the community’s local income and local tax revenues, but it helps advance an area that may have otherwise been neglected.
“Americus Gardens will have a very positive effect on the community,” said Brent Barringer, Managing Director of LIHTC for MPC. “Providing quality homes in a central location will give residents access to better jobs and help them cut down on the costs of transportation. We appreciate the leadership of Gateway Development Corporation to bring this project to fruition and couldn’t be more pleased with the outcome of our investment.”
“Our mission at Gateway is to provide a gateway to affordable housing for working Americans,” said Jason Freeman, President at Gateway Development Corporation. “Having a safe, clean and quality environment is imperative to healthy development, and we are committed to providing these crucial homes to communities like Americus, Georgia.”
For more information on MPC’s programs and services, please contact Brent Barringer by emailing bbarringer@monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital positively impacts communities by investing in tax credit supported industries. The company is a nationally recognized tax equity investor providing innovative capital solutions for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch has long term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Investors look to Monarch to create, operate, and manage a variety of different funds, including investment opportunities that address ESG initiatives that provide a quantifiable impact. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.
We are thinking of you and your families during this difficult time. At Monarch Private Capital, the safety of our clients and employees is our highest priority. We want to keep you informed of the measures we are taking to ensure health, safety, and progress on your projects and investments.
Our firm has recently shifted to a remote working environment and we have suspended all work-related travel. The investments that we had previously made in our technology and support systems have significantly paid off as we moved to a “Shelter in Place” operating mode. Our secure, cloud-based voicemail, email, phone and video conferencing systems are thoroughly integrated and operating as designed. These systems act as a safeguard to effectively manage our business in times like these.
We are actively communicating with our project sponsors and developers of our underlying investments to obtain status updates on their risk mitigation efforts and any implications the coronavirus (COVID-19) is having on individual projects and affected personnel. While we know the impacts of the virus can vary by project, we are monitoring the situation on a regular basis. If we determine an investment has been impacted by COVID-19, rest assured that we will notify you outside of our normal reporting protocols.
Our Asset Management and Investor Reporting functions remain fully operational. We are currently in the midst of tax reporting season and remain committed to the delivery of timely information to all of our clients.
We appreciate the trust and confidence that you have placed in us, and we remain committed to fully serving your needs.
Warm Regards,
Robin & George
Robin Delmer
Co-CEO & Managing Director of Acquisitions
O: 404-596-8035 | M: 678-576-7905
rdelmer@monarchprivate.com | bio
George L. Strobel II
Co-CEO. Managing Director of Tax Credit Investments
O: 404-596-8032 | M: 404-372-3383 | F: 404-592-1056
gstrobel@monarchprivate.com | bio